What it is: A market failure occurs when the supply of a good or service is insufficient to meet demand. This results in an inefficient distribution of resources among market participants. Under free market conditions, prices are determined almost exclusively by the forces of supply and demand.
NuvaRing is currently under the protection of a patent that prevents any generic NuvaRing from being manufactured in the United States. The first patent for NuvaRing currently expires in April 2018.This is the earliest possible date that a generic version of NuvaRing could become available. However, there are other circumstances that could come up to extend the exclusivity period of NuvaRing beyond 2018.This could include such things as other patents for specific NuvaRing uses or lawsuits.uvaRing is currently under the protection of a patent that prevents any generic NuvaRing from being manufactured in the United States. The first patent for NuvaRing currently expires in April 2018.
How long a patent lasts depends on when the application was filed with the U.S. Patent and Trademark Office. For U.S. patents filed through June 17, 1995, the patent lasts for 17 years from the date the patent is issued, provided that the fees necessary to keep the patent in force (maintenance fees) are paid. For patent applications filed after June 17, 1995, the patent last 20 years from the date of filing. Since applications typically take one to three years to process, most patents filed after 1995 have an effective duration of 17-19 years.